Commonwealth Equity Services LLC Buys 299 Shares of HSBC Holdings plc (NYSE:HSBC)

Commonwealth Equity Services LLC increased its stake in HSBC Holdings plc (NYSE:HSBC – Get Rating) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,493 shares of the financial services provider’s stock after acquiring an additional 299 shares during the quarter. Commonwealth Equity Services LLC’s holdings in HSBC were worth $919,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Envestnet Asset Management Inc. grew its position in HSBC by 118.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 469,434 shares of the financial services provider’s stock valued at $12,238,000 after purchasing an additional 254,841 shares during the period. Evergreen Capital Management LLC grew its position in HSBC by 7.0% in the 3rd quarter. Evergreen Capital Management LLC now owns 16,696 shares of the financial services provider’s stock valued at $435,000 after purchasing an additional 1,095 shares during the period. Gallacher Capital Management LLC acquired a new stake in HSBC in the 4th quarter valued at $283,000. Ritholtz Wealth Management boosted its holdings in HSBC by 7.6% during the 4th quarter. Ritholtz Wealth Management now owns 34,295 shares of the financial services provider’s stock worth $1,069,000 after acquiring an additional 2,422 shares during the last quarter. Finally, Pzena Investment Management LLC purchased a new position in HSBC during the 4th quarter worth $675,000. Institutional investors own 1.26% of the company’s stock.

HSBC Stock Performance

NYSE:HSBC opened at $38.53 on Tuesday. The firm has a market cap of $153.96 billion, a PE ratio of 6.91, a price-to-earnings-growth ratio of 0.30 and a beta of 0.58. HSBC Holdings plc has a fifty-two week low of $24.77 and a fifty-two week high of $39.63. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.98 and a current ratio of 0.98. The business has a 50 day moving average price of $35.75 and a 200-day moving average price of $34.23.

HSBC (NYSE:HSBC – Get Rating) last released its quarterly earnings data on Tuesday, February 21st. The financial services provider reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.02). The company had revenue of $15.35 billion for the quarter, compared to analysts’ expectations of $14.28 billion. HSBC had a net margin of 32.20% and a return on equity of 11.52%. Equities research analysts predict that HSBC Holdings plc will post 6.96 earnings per share for the current year.

HSBC Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 23rd. Investors of record on Friday, May 12th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, May 11th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.19%. HSBC’s dividend payout ratio is presently 37.46%.

Analyst Ratings Changes

A number of research firms have issued reports on HSBC. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of HSBC from GBX 880 ($10.95) to GBX 1,000 ($12.44) in a report on Wednesday, May 3rd. Royal Bank of Canada boosted their price target on shares of HSBC from GBX 775 ($9.64) to GBX 800 ($9.95) in a report on Wednesday, May 10th. JPMorgan Chase & Co. cut their price target on shares of HSBC from GBX 650 ($8.08) to GBX 630 ($7.84) in a report on Tuesday, April 18th. Berenberg Bank raised shares of HSBC from a “hold” rating to a “buy” rating in a report on Wednesday, May 3rd. Finally, Barclays boosted their price target on shares of HSBC from GBX 840 ($10.45) to GBX 900 ($11.19) in a report on Wednesday, May 3rd. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, HSBC currently has an average rating of “Hold” and an average price target of $729.60.

HSBC Company Profile

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HSBC Holdings plc provides banking and financial services worldwide. The company operates through Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. The Wealth and Personal Banking segment offers retail banking and wealth products, including current and savings accounts, mortgages and personal loans, credit and debit cards, and local and international payment services; and wealth management services comprising insurance and investment products, global asset management services, investment management, and private wealth solutions.